The presence of Japanese Knotweed is a growing problem for sellers and buyers alike which can affect the value of a property.
Japanese Knotweed was introduced to this country by the Victorians as an ornamental plant but they were unaware that it grows prolifically and it is not impeded by the presence of concrete, walls or floorboards.
It has now become a nuisance and sellers are obligated to disclose its presence, providing they know what it looks like, and this can be tricky. Buyers are encouraged to be proactive and ask their Surveyor to inspect the property to ensure that it is not affected by Japanese Knotweed or other invasive plants such as giant hogweed or Himalayan balsam.
Some lenders have historically refused to lend against property blighted by Japanese Knotweed but this is no longer the case. Where a lender is willing to lend, however, it will require sight of a management plan to deal with the control and eradication of the plant. The lender may also require a retention to tackle and treat the problem.
Japanese Knotweed is classed as a controlled waste under the Environmental Protection Act 1990 and must therefore be disposed of accordingly. This classification means that it must only be disposed of in special landfill sites.